EGAT & BAY to promote smart energy solutions for increased energy efficiency

Source: www.gulfoilandgas.com 4/30/2024, Location: Asia

EGAT and BAY join hands to sign an MOU on promoting smart energy solutions including knowledge sharing and financial aspects, enhancing energy efficiency in the business sector, driving clean energy development, and sustainably reducing carbon dioxide emissions.

On April 24, 2024, Electricity Generating Authority of Thailand (EGAT) and Bank of Ayudhya Public Company Limited (BAY) entered into a Memorandum of Understanding (MOU) on studying and promoting green and smart energy solutions and exchanging knowledge on renewable energy and smart micro-grid system, as well as mechanisms for reducing greenhouse gas emissions, such as renewable energy certificates and smart energy-saving systems for businesses. On this occasion, Dr. Jiraporn Sirikum, EGAT Deputy Governor – Power Business, and Mr. Kenichi Yamato, BAY Chief Executive Officer and President, signed the MOU, along with the witnesses which were Mr. Bunsei Okubo, BAY Head of Japanese Corporate and Multinational Customers (JPC/MNC) Banking, and Mr. Prakob Phiencharoen, BAY Head of Corporate and Investment Banking Group, at the Krungsri Ploenchit Tower, Lumphini Sub-district, Pathumwan District, Bangkok.

Dr. Jiraporn Sirikum, EGAT Deputy Governor – Power Business, revealed that EGAT has promoted sustainable renewable energy development. EGAT collaborates with BAY to support the business sector and EGAT customers in achieving Carbon Neutrality and Net Zero Emissions through the Green Finance and ESG Model of BAY. EGAT provides advice and technical knowledge support, as well as exchanges information on the implementation of green and smart energy solutions to BAY’s customers. This collaboration will lead to new cooperation in research on smart energy solutions, increased energy efficiency, and energy usage reduction between the two organizations in the future.

Mr. Bunsei Okubo, BAY Head of Japanese Corporate and Multinational Customers (JPC/MNC) Banking, stated that as an organization with expertise in improving energy efficiency and a team experienced in researching and developing smart energy solutions, EGAT will contribute to promoting solutions for reducing carbon dioxide emissions of the business sector through EGAT Smart Energy Solutions for BAY’s corporate customers. This will play a part in enhancing energy efficiency and supporting customers in conducting environmentally friendly businesses by reducing energy consumption while maintaining operation efficiency and productivity. Due to the concerns on climate change and environmental issues, BAY is committed to reducing carbon emissions by setting carbon neutrality targets not only within the organization by 2030 but also extending to financial services by 2050. Under the cooperation with EGAT to promote the smart energy solutions, BAY will be closer to achieving its goals of reducing carbon emissions.

Mr. Prakob Phiencharoen, BAY Head of Corporate and Investment Banking Group, revealed that EGAT is an important customer of BAY for over 40 years. The collaboration under this MOU reflects the commitment of both organizations to driving toward Carbon Neutrality, aligning with the country’s carbon reduction guidelines. In addition to introducing EGAT Smart Energy Solutions to BAY’s customers, the parties are underway to jointly organize seminars and workshops related to the reduction of carbon dioxide emissions and seek further cooperation opportunities in the future.


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